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Domestic oil companies have made significant progress in efforts to raise production in the past few years. As a result, China's decline in crude oil production slowed in 2018, with total crude production reaching 189 million tons, 3 million tons less than the previous year and 1.3 percent down compared with the same period in 2017, according to an annual report released at the end of April on China's energy development by the China Electric Power Planning and Engineering Institute.

Digital economy has contributed over 30 percent of China's GDP (74.4 trillion yuan or .2 trillion in 2016). This number is expected to be over 35 percent by 2020.

Despite their overseas forays, China's gold enterprises are still focused on mines in China and the proportion of overseas assets is still low compared with that of global players, Chen said.

Dolce & Gabbana posted an announcement on its Weibo account saying: "Our Instagram account has been hacked. So has the account of Stefano Gabbana. Our legal office is urgently investigating. We are sorry for any distress caused by these unauthorized posts. We have nothing but respect for China and the people of China".

Ding said 47 of its 5G contracts are from Europe, 27 from Asia and 17 from other regions.